Introduction
LBank, a global leader in the crypto exchange industry, has recently announced the launch of its fourth Launchpad. This new Launchpad will feature the highly anticipated project called EchoLink. The announcement has generated significant interest in the market, following the success of LBank's previous Launchpad projects such as PINs Network, UMM, and ACGN Protocol's token AIMEME.
LBank's Commitment to Globalization
LBank is dedicated to promoting the globalization of crypto asset trading, and the introduction of EchoLink is a testament to this commitment. The Launchpad platform offers users from around the world a wide range of investment opportunities in the crypto asset market. This not only contributes to the development of the global digital economy but also allows LBank to stay ahead of market trends. LBank has already launched several high-profile projects, including $Ordi and BRC20 concept leaders SATS, RATS, and MUDI, providing users with the chance to participate in the most promising market projects at optimal prices.
About LBank Launchpad
LBank Launchpad is a key feature of the LBank trading platform, designed to provide users with a diverse selection of crypto asset investment opportunities. Through LBank Launchpad, users can easily participate in high-quality blockchain projects and share in their growth and success. The continuous growth of LBank's global user base demonstrates its competitive strength in the global digital asset trading platform market. LBank's global strategy is focused on offering users a broader and more diverse selection of digital assets, enabling global investors to benefit from the development of the crypto economy.
Introducing the EchoLink Project
The EchoLink project is a decentralized physical infrastructure network (DePIN) based on Solana. It serves as an IoT oracle that utilizes advanced proof mechanisms to provide data capture, measurement, and verification services for numerous IoT devices. EchoLink ensures secure data transmission to oracle nodes through the use of zero-knowledge proofs and homomorphic encryption technologies. By bridging data and blockchain, EchoLink provides a toolkit for DePIN projects and lays the foundation for the future integration of IoT with blockchain.
Advantages of EchoLink
EchoLink is a highly innovative and forward-looking project in the DePIN sector. It not only serves as a platform that connects IoT devices with blockchain but also provides essential data capture, measurement, and verification services for IoT devices. The launch of EchoLink represents a significant integration of IoT with blockchain technology, offering users a secure and efficient data interaction environment.
The native token of the EchoLink project, $ECHO, has great potential for market appreciation. As the EchoLink ecosystem continues to develop and expand, these tokens are expected to become popular investment choices in the digital asset field. Holders of $ECHO tokens will also have the right to participate in the governance decisions of the EchoLink community. This decentralized governance model allows community members to directly contribute to the ecosystem's development and decision-making processes. Overall, $ECHO tokens play a crucial role in the EchoLink ecosystem, connecting community members, creators, and investors, and promoting the integration and development of IoT with blockchain technology.
LBank Launchpad's Strong Market Performance
LBank Launchpad consistently offers users a diverse selection of projects, covering innovative and forward-looking projects in various fields. LBank is committed to providing users with a safe and reliable trading environment. The Launchpad platform follows high-standard security measures and employs a fair project allocation mechanism, ensuring equal opportunities for all users to participate in projects while safeguarding their assets. Global users can conveniently engage in Launchpad projects through the LBank platform, benefiting from the growth potential of these projects.
Participation Guide
To participate in the EchoLink project on LBank Launchpad, users need to meet the following conditions:
- Conduct at least one transaction on LBank between January 18 and January 24, 2024.
- Hold the following minimum amounts of cryptocurrencies: BTC ≥ 0.027, ETH ≥ 0.5, USDT ≥ 1000, LBK ≥ 97000, XRP ≥ 1615, TRX ≥ 9650.
Token Information
Token: ECHO
Quota: 10M ECHO (1% of total)
Cap: 50K ECHO
Supply: 1B ECHO
Ratio: 1ECHO = 0.01 USDT
Mode: Contribution
Currency: USDT
Contribution Time Nodes (UTC+8): From January 18, 2024, 00:00 to January 24, 2024, 24:00
Contribution opens at 14:00 on January 25, 2024. Users need to sign a purchase agreement and contribute within 5 hours. Please note that contributed USDT cannot be withdrawn.
The contribution channel will close at 19:00 on January 25, 2024.
The token allocation results will be calculated from 19:00 to 21:00 on January 25, 2024, and announced at 21:00 on the same day. ECHO tokens and the remaining USDT will be distributed to users' spot wallets.
About LBank
Established in 2015, LBank is one of the leading crypto asset trading platforms worldwide. It is dedicated to providing users with secure, convenient, and professional services for crypto asset trading. LBank offers a wide range of digital asset trading pairs and regularly introduces innovative financial products and services to enhance the trading experience. The Launchpad platform is a testament to LBank's progress and innovation in the blockchain sector. Through the Launchpad, global users can participate in diverse projects and witness the evolution of the crypto asset industry.
For media inquiries, please contact:
Eddy Wang
PR Manager, LBank
Email: eddy.wang@lbank.com
Frequently Asked Questions
What is the cost of gold IRA fees
The average annual fee for an individual retirement account (IRA) is $1,000. There are many types of IRAs available, including traditional, Roth, SEP and SIMPLE IRAs. Each type has their own set of rules. You may be required to pay taxes on earnings earned from investments that aren't tax-deferred. The amount of time you intend to keep the money must be considered. If you plan to keep your money longer, you can save more money by opening a Traditional IRA instead of a Roth IRA.
You can contribute up to $5500 per year to a traditional IRA (or $6500 if you are 50 or older). The Roth IRA allows unlimited contributions each year. The difference between them is simple: With a traditional IRA, you can withdraw the money after you retire without paying taxes. However, Roth IRA withdrawals are subject to tax.
What Should Your IRA Include in Precious Metals?
You can protect yourself against inflation by investing your money in precious metals, such as silver and gold. It's not just for retirement. It can also be used to prepare for economic downturns.
Although silver and gold prices have increased in recent years, they can still be considered safe investments as they don't fluctuate nearly as much as stocks. These materials are in constant demand.
Predictable and stable prices for gold and silver are common. They are more stable when the economy is growing than they are during recessions. This makes them great long-term investors and money-savers.
10% of your total portfolio should be invested in precious metals. If you wish to diversify further, this percentage could be higher.
Can you make a profit on a Gold IRA?
If you want to make money on an investment, you need to do two things firstly, understand how the market operates, and secondly, know what kind of products are available.
Trading is not a good idea if you don’t know what you need.
A broker should offer the best service for each account type.
You have many options, including Roth IRAs as well as standard IRAs.
A rollover is also an option for those who already own stocks and bonds.
Which type is best for an IRA?
When selecting an IRA for yourself, the most important thing is to find one that meets your lifestyle and goals. You must consider whether you want to maximize tax-deferred growth on your contributions, minimize taxes now and pay penalties later, or just avoid taxes altogether.
If you're saving for retirement and don't have much money invested, the Roth option could make sense. It's also worth considering if your plan is to work after the age of 59 1/2.
If you plan on retiring early, the traditional IRA may be better because you'll likely owe any taxes on the earnings. The Roth IRA is a better option if you plan to continue working well beyond age 65. It allows you to withdraw any or all of your earnings and not pay taxes.
Which is stronger: 14k gold or sterling silver?
Gold and silver are strong metals, but sterling silver is much less expensive because it contains 92% pure silver rather than just 24%.
Sterling silver is sometimes called fine silver. This is because it is made with a mix of silver and different metals like copper or zinc.
Gold is considered very strong. It is very difficult to separate it from its metal counterpart. If you drop something on top of a chunk of gold it will shatter into thousands of pieces rather than breaking into two halves.
However, silver doesn't have the same strength as gold. If you dropped an item onto silver sheets, it would likely fold and bend without cracking.
It is commonly used in coins and jewelry. The price of silver can fluctuate according to supply and demande.
How does an IRA with gold or silver work?
A gold and silver IRA allows you to invest in precious metals, such as gold and silver, without paying taxes on any gains. They make a great investment choice for those looking to diversify.
If you are above 59 1/2 years old, you do not have income tax to pay on the interest earned. Capital gains tax is not required for any appreciation in account value. There are limits on the amount of money that you can place into this account. The minimum amount that you can invest is $10,000. Under 59 1/2 years old, you can't make any investments. The maximum annual contribution is $5,500.
Your beneficiaries might not receive the full amount of your account if your death occurs before you retire. After all expenses have been paid, your estate must contain enough assets to cover any remaining balance in your account.
Some banks offer IRA options in gold and silver, while some require you to open a regular brokerage accounts through which you can purchase shares or certificates.
What Is a Precious Metal IRA?
Precious Metals are a great way to invest in retirement funds. They are a timeless investment that has held its value since the beginning of time. A great way to diversify and protect your portfolio is to invest in precious metals such silver, gold, and platinum.
In addition, some countries allow citizens to store their money in foreign currencies. You can buy Canada gold bars and keep them home. You can also sell these gold bars for Canadian dollar when you visit family.
This is a very easy way to invest in precious metals. It is particularly useful for those who live outside North America.
Statistics
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
- The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
- Silver must be 99.9% pure • (forbes.com)
External Links
regalassets.com
takemetothesite.com
en.wikipedia.org
kitco.com
How To
How to convert your IRA into a Gold IRA
So you want to move your retirement savings from a traditional IRA into a gold IRA? Well, this article will help you do just that. Here's how to make the switch.
“Rolling over” refers to the act of transferring money into an alternative type of IRA (traditional), or vice versa (gold). This is done because tax advantages go along with rolling over an account. Others prefer to invest in tangible assets, such as precious metals.
There are two types of IRAs — Traditional IRAs and Roth IRAs. The difference between these two accounts is simple: Traditional IRAs allow investors to deduct taxes when they withdraw their earnings, while Roth IRAs don't. That means that if you invest $5,000 in a Traditional IRA today, then after five years, you'll only be able to take out $4,850. However, if you put the same amount into a Roth IRA you would be able keep every penny.
This is what you need to know if you want to convert an IRA from a conventional to a IRA to a IRA with gold.
First, you must decide whether to move your balance into a new bank account or transfer funds from your existing account to the new one. Any earnings over $10,000 will be subject to income tax at the regular rate. If you decide to roll over your IRA you will not be subject to income tax on these earnings until you turn 59 1/2.
Once you have decided to open a new bank account, Most likely, you will need to present proof of identity such as a Social Security Card, passport, or birth certificate. After that, you'll need to sign paperwork proving you own an IRA. After you have completed the forms, submit them to your bank. You'll be verified and given instructions on where you can send your wire transfers and checks.
The fun part is here. You'll deposit cash into your new account and wait for the IRS to approve your requests. Once you have received approval, you will receive a letter that allows you to withdraw funds.
That's it! Now, all you have left to do is relax and watch your wealth grow. Remember that if you are unsure whether you want to convert your IRA, it is possible to close it and roll the balance over into a new IRA.
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By: Media
Title: LBank Announces Fourth Launchpad, Featuring EchoLink
Sourced From: news.bitcoin.com/lbank-announces-fourth-launchpad-featuring-echolink/
Published Date: Mon, 15 Jan 2024 07:45:58 +0000
